Dealing with debts

sweenster

getmore4less wrote: »

if satisfied everything is in the estate then you need to work out the distribution of the residual.

Subject to no spouse that will be the kids so how many.

There is currently around £4k + the equity in the house(£14k-£24k) + any discounts you can get on the debt, £18k-£28k+ to be shared out to be shared out.

The secured debts stay with the property whoever want to take that on needs to pay that and raise enough to satisfy the other beneficiaries.

They could gift their shares to help keep the house or become joint owners.

Thanks. Any suggestions on how to go about getting discounts on the debt?

The Cabot one, I'm inclined to go on the basis that they will stand by their 30% offer. One of the other large ones is more complicated, since there has been no communication from them at all for 5 or 6 years - I do know that they have been getting paid every month for that time though, so there's no chance of it being statute barred. I don't know if it would be worth making the same 30% offer to them. I'm inclined to think they'd sit it out to see the assets in the estate then try and claim the full amount.